Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by GFG Capital LLC

GFG Capital LLC trimmed its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 7.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,429 shares of the natural resource company’s stock after selling 2,000 shares during the quarter. GFG Capital LLC’s holdings in Freeport-McMoRan were worth $892,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FCX. Asset Planning Inc purchased a new stake in Freeport-McMoRan in the fourth quarter valued at approximately $25,000. Laurel Wealth Advisors LLC raised its position in Freeport-McMoRan by 487.8% in the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock worth $28,000 after acquiring an additional 600 shares in the last quarter. Godsey & Gibb Inc. grew its holdings in Freeport-McMoRan by 150.4% in the third quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company’s stock valued at $29,000 after purchasing an additional 346 shares during the last quarter. Financial Life Planners acquired a new stake in Freeport-McMoRan in the fourth quarter valued at $36,000. Finally, Continuum Advisory LLC boosted its stake in shares of Freeport-McMoRan by 46.8% during the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock valued at $37,000 after acquiring an additional 236 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Up 6.1 %

NYSE:FCX opened at $40.28 on Friday. The firm has a market capitalization of $57.87 billion, a price-to-earnings ratio of 31.22, a PEG ratio of 0.81 and a beta of 1.85. Freeport-McMoRan Inc. has a 1-year low of $34.89 and a 1-year high of $55.24. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. The business’s fifty day moving average price is $38.98 and its 200 day moving average price is $42.90.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. On average, sell-side analysts forecast that Freeport-McMoRan Inc. will post 1.71 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FCX has been the topic of a number of research analyst reports. Argus lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Raymond James raised their target price on Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Jefferies Financial Group downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating and dropped their target price for the company from $48.00 to $40.00 in a report on Friday, January 24th. BMO Capital Markets lowered their price objective on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Finally, JPMorgan Chase & Co. lowered their price objective on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Nine analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $51.46.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. It primarily explores for copper, gold, molybdenum, silver, and other metals. The company's assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Chino and Tyrone in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.